INFOGRAPHIC: Expensing Tradeshow Attendance

At the time of publishing, two of the portable sanitation industry’s largest tradeshows in the United States — the PSAI Nuts & Bolts Educational Conference and the Water & Wastewater Equipment, Treatment & Transport (WWETT) Show — recently concluded. So, now is a good time to discuss tax deductions associated with attending tradeshows while it’s fresh in your mind and your receipts are more easily accessible.

In the infographic below, we cover the things to keep in mind related to expensing tradeshow attendance, including the expenses that are eligible to be deducted and the steps for writing off those expenses. For additional information specific to your business, consult your tax professional.

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Expensing Tradeshow Attendance

Ordinary & Necessary Rule

Deductions are allowed for expenses that are both:

• Ordinary: Common and accepted in the industry
• Necessary: Helpful and appropriate for your business

Eligible Deductible Expenses Related to Tradeshows

• Registration fees
• Travel costs (airfare, train ticket, car rental, mileage on personal vehicle)
• Lodging if a hotel stay is necessary for attending the show
• Meals (50% deductible under IRS rules)
• Business-related purchases (equipment, technology and supplies that directly support your business)
• Expenses related to exhibiting (promotional materials, booth fees, setup expenses)

Steps for Writing Off Tradeshow Expenses

1. Keep Detailed Records

• • Save receipts, invoices and proof of payment for all expenses
  • Keep tradeshow agendas or documents for proof of business relevance

2. Properly Categorize Expenses

• • Travel
  • Meals
  • Marketing
  • Supplies/Equipment

3. Separate Business Expenses vs. Personal Expenses

• • Only the business portion of expenses are deductible

4. Report Expenses Correctly on Your Tax Return

• • Self-Employed/LLC report under Schedule C (Business Expenses)
  • Corporations report under the business’s operating expenses on Form 1120 or 1120-S

5. Consult a Tax Professional

• • A CPA or tax advisor can ensure compliance and maximize tax benefits before filing